Starting Your Photography Light Business
Creating your own business renting out photography lights can be expensive to start up but once it is running it can be very lucrative. The equipment rental business for photography can be divided into camera and lighting rentals.
Cameras cost more to rent because they are generally more expensive than lights are. You can make a lot of money renting out cameras but they are more complicated to repair and maintain. Also, camera technology is constantly changing so you have to keep on buying gear to keep you inventory up to date.
Lights are very different. The technology rarely changes so you can use a light for years as long as it is properly maintained. The overhead is a lot less in lighting than in the camera rental business, so you can make a pretty nice profit.
Step 1: Assemble Inventory
You want to assemble an inventory of the most popular lights people ask for. You need to carry a wide range of choices so that you can be a one-stop rental house.
You want to have enough lights available; if you're out of stock then the customers are going to go with another vendor who has them. Going against this rationale is a quick way to lose clientele.
Step 2: Set Competitive Prices
Figure out how much money you need to make a profit and determine what prices you can charge based on how many days you think you'll be renting it out.
An effective way to determine your prices is by checking out what your competitors are doing too. You don't want to have prices that are higher because that would result in lost business. Ideally you want to have the same prices or a little less to undercut them.
You don't want to make your prices so low that you can't maintain the equipment. People will stop coming to you if the gear is always in horrible condition, no matter the price. A lot of your renters are working for playing clients, so they don't want the client to see beat-up gear on a shoot. Impressions count.
Step 3: Find A Location To Set Up Shop
After getting the products the next most important step for your business is finding a location to set up shop. You want to be somewhere central to the action. People don't want to travel far when they could save time going somewhere else.
They also feel comfortable knowing that their vendor is nearby where they're shooting in case they need more equipment, or if something needs to be swapped out. Time lost on a shoot equals money lost.
You also want a location with easy parking and access to a loading dock. Lights are large and heavy and need proper transportation.
Step 4: Sub rentals
You're most likely going to get calls for items you don't have and that could mean losing that whole rental order over one specialty item. You should sub rent those missing items so you don't lose the customer.
Step 5: Update Your Inventory
Eventually you'll get enough requests for an item you don't have that it would make sense to buy it rather than sub rent. Remember, clients prefer one-stop shopping and as your business grows so should your inventory.Popular Cameras for High Quality Photos: